Our payment-processing and business tools help you get paid – whether you're selling online, offline, or some combination of the two. Manage all your payments within one account. Now there’s a new regulation in town: the PSD2 (or Payment Services Directive 2). That means when you buy something they can make a payment for you, without having to redirect you to another service (like PayPal … In order to access your PayPal business account, you will need to ensure you have an up-to-date phone number associated to your account. Hi everyone, The Second Payment Services Directive (PSD2) is a new EU directive regulating payment services in the European Economic Area. The Second Payment Services Directive (PSD2) is a new European Union regulation which regulates payment services in Europe. Download this datasheet to review PayPal’s interface performance data. We’ll take care of automating the billing and communication to your customers. It will still apply to the UK after Brexit. New regulations mean changes are coming to the way you access your account and pay with PayPal. Accessing a PayPal user’s account information, such as account balances and transaction history. The directive requires new measures that impact how you access your account and pay with PayPal. PSD2 will break down the bank’s monopoly on their user’s data. PSD2 stands for the second Payment Services Directive and it applies to card issuers across the European Economic Area. It will allow ‘merchants’, businesses like Amazon, to retrieve your account data from your bank - with your permission. Please, contact a local authority or an internal/external legal advisor and provide a document with more detailed analysis that reasonably explain why your business model and payments flow (where applicable) cannot be considered to be under PSD2 scope, including considerations for Recital 11 of the PSD2 regulation. Always do your own research on top and seek professional advice if you want to ensure that what you do is right for your specific circumstances. This directive requires that we put in place, new measures that impact how you access your account and pay with PayPal. Contact us to get access and start testing PayPal’s XS2A implementation. For you as a business a new regulation introduces changes to how you log into your PayPal business account. No-one wants to lose a sale or a customer because their payment couldn’t be processed. Update your phone number. Not complying with PSD2 could have a major impact on your business, as Tony Arevalo of Carsurance explains: “I would definitely stop using PayPal, or any payment service, if it didn’t comply with the new directive. Account Information Service Providers (AISPs): Service providers that aggregate and display the customer's online account information of one or more accounts held at one or more account servicing payment service providers (ASPSPs). The information in these articles does not constitute financial or investment advice of any kind and does not count as a substitute for any professional advice. What is PSD2? New requirements to improve the security of online card payments are coming soon. PSD2 gives providers a regulated, open market to compete in, while providing customers more payment options and increased security. XS2A allows customers to use the services of third-party providers to access account information or initiate transactions on their behalf. The Second Payment Services Directive (PSD2) This is a new EU directive regulating payment services in the European Economic Area. If your online store or website is not ready, there’s a risk of customers’ payments being declined by the card issuer. Information about Directive (EU) 2015/2366 on payment services (PSD 2) The new PSD2 is meant to create fairer competition between traditional banks and modern payment service providers (such as PayPal). XS2A allows customers to use the services of third-party providers to access account information or initiate transactions on their behalf. Kindly assist What should i edit in my Cookies help us customize the PayPal Community for you, and some are … Mis à part les avantages précités, presque rien ne change pour vous. PSD2 enables open banking by introducing Access to Account (XS2A). The revised Payment Services Directive (PSD2) is the EU legislation which sets regulatory requirements for firms that provide payment services. However, the European Banking Authority (EBA) granted further potential exemptions and set the new PSD2 deadline to 31 December 2020.. Part of PSD2 includes the new security requirements that will impact online businesses accepting card payments. Test Credit Card numbers for use on PayPal sandbox, Checkout as Guest Option Turned on, but option not available to customers, Create specific paypal button for 3 types of payment options, Account Servicing Payment Service Providers, Electronic Identification, Authentication and Trust Services, Regulatory Technical Standards on Strong Consumer Authentication and Secure Communication. What challenges and opportunities could the new directive provide?

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